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. >> tomorrow on news makers the federal debt and deficit, the cuts known as sequestration beginning on march 1. you can watch the interview on news makers tomorrow at 10:00 a.m. eastern and 6:00 eastern here on c-span. >> and you are watching the communicate tors on c-span. we are on location at the c.e.s. international 2013 show in lave from the -- from las vegas. here at c.e.s. international, samsung has a large display and we are joined by david steel of samsung. begin by giving us a snapshot of the samsung corporation. >> it is now the largest technology company in the world by sales. we cover components all the way through to finished goods like home appliances, televisions and smartphones. so you will see a whole range of products at the booth where we are showing audio systems, home appliances, televisions, the whole range of electronic products. >> what is your position at samsung, for what are you response snble >> i'm responsible for our corporate strategy in north america america and looking at all of our corporate strategies across that. so overseeing all the product are
. >> tomorrow on news makers the federal debt and deficit, the cuts known as sequestration beginning on march 1. you can watch the interview on news makers tomorrow at 10:00 a.m. eastern and 6:00 eastern here on c-span. >> and you are watching the communicate tors on c-span. we are on location at the c.e.s. international 2013 show in lave from the -- from las vegas. here at c.e.s. international, samsung has a large display and we are joined by david steel of samsung. begin by giving...
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the unifying message of the republican party, the fiscal, our fiscal hours is out of order and the deficit is spiraling and we need to get that under control. you're also seeing republicans saying we can't just be about fiscal issues and in fact, the very beginning of that speech that majority leader cantor gave, let's put aside fiscal issues for a minute. let's talk about education. let's talk about health care. let's talk about immigration. they're trying to put sort of a kindler gentler face on the party because the exit polls show a lot of voters perceive mitt romney as sort of out of touch and removed from middle class concerns and not really someone who could relate to just the average american and the makeup of the party is a much wider republican party. >> right. >> every way by the polls. >> they can't survive that way. the demographic tide is moving. it was financey, the title of that speech that the majority leader said was make life work. it sounds like an oprah. gwen: i didn't get that. the speech didn't seem to be -- >> no, but i think -- but the sort of an oprah feel to it.
the unifying message of the republican party, the fiscal, our fiscal hours is out of order and the deficit is spiraling and we need to get that under control. you're also seeing republicans saying we can't just be about fiscal issues and in fact, the very beginning of that speech that majority leader cantor gave, let's put aside fiscal issues for a minute. let's talk about education. let's talk about health care. let's talk about immigration. they're trying to put sort of a kindler gentler face...
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tell that to your kids and grandchildren. >> i am a boring deficit hawk, i say the same thing over and over again. paul krugman has convinced a lot of my liberal friends that it is okay to kick the can down the road. >> he actually used those words. >> terrible idea. it? all sorts of disasters. sudden interest -- it courts all sorts of disasters. it takes a long time to fix these problems. sequestration is a very crude, ugly tool, but if it actually has the effect of making people get serious about entitlement reform and tax reform, it would not be so bad. >> colby, what do you think? >> going back to charles' column, he said this the first time since the election the president obama has been put on defense. i don't think that is true. i agree with mark, the republicans will bear the brunt of this initially, because they will appear to be the obstructionists. looking at it in sheer political terms is the wrong way to look at this. this would have merkel implications if the economy tanks as a result of this -- global implications if the economy tanks as a result of this. >> you think th
tell that to your kids and grandchildren. >> i am a boring deficit hawk, i say the same thing over and over again. paul krugman has convinced a lot of my liberal friends that it is okay to kick the can down the road. >> he actually used those words. >> terrible idea. it? all sorts of disasters. sudden interest -- it courts all sorts of disasters. it takes a long time to fix these problems. sequestration is a very crude, ugly tool, but if it actually has the effect of making...
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we can't just talk about the deficit in the short-term when really we need to spend more. we can't keep cutting jobs because cutting right now is laying off teachers, laying off firefighters. it's not educating our kids. it's going to take people out of head start. these are things that are not going to get us on the right track. we need to focus and get engaged and get the economy back on the right track. >> rick: two starkly different views on a way forward. well presented by both of you. so thank you both for coming on. >> thank you. >> arthel: very good. so there is this, in utah, a moose creating some excitement in a residential neighborhood. the moose making himself effectually at home, taking in the sights as he wandsered into various back yards. sometimes hopping walls and fences, posting on facebook. no, he didn't. wildlife officials were finally able to tranquilize him and they suggest you leave that to the professionals, of course. >> rick: i just got -- >> you never approach a moose. they're very aggressive. they can seem real docile and all of a sudden decide
we can't just talk about the deficit in the short-term when really we need to spend more. we can't keep cutting jobs because cutting right now is laying off teachers, laying off firefighters. it's not educating our kids. it's going to take people out of head start. these are things that are not going to get us on the right track. we need to focus and get engaged and get the economy back on the right track. >> rick: two starkly different views on a way forward. well presented by both of...
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the final minute, the deficit down to 5 and smith misses in the lane. the battle for the rebound and tipping it in finally. the colonials full -- pull to within 3. the one-possession game and under a minute to g. four seconds left, gw down 3. the inbound bound to joe mcdonald and loses the ball. appears to be fouled and kroma unable to get the shot off and lonagan want wants the fall and doesn't get the foul and falls to 14th-rank butler, 59-56. >>> and hughet and george mason hosting the delaware blue hens in fairfax and starting in the first half. the patriots trailing by 5. allen gives to okalosha hitting the 3-pointer, the deficit down to two and that is as close as george mason gets. the second half, mason down 6 and jonathan arledge misses from the stop and there is no luck with the rebound. and ahead to -- forward with the dunk and falls to delaware, 79-72. >>> the tech square off today and the hokies, they would miss the first 10 shots. yes, i said that and scoring the first, seven minutes into the game. eric green down the lane, heaven -3, geor
the final minute, the deficit down to 5 and smith misses in the lane. the battle for the rebound and tipping it in finally. the colonials full -- pull to within 3. the one-possession game and under a minute to g. four seconds left, gw down 3. the inbound bound to joe mcdonald and loses the ball. appears to be fouled and kroma unable to get the shot off and lonagan want wants the fall and doesn't get the foul and falls to 14th-rank butler, 59-56. >>> and hughet and george mason hosting...
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. >> now, huge deficit in the state of california, and tax hike trying to fix it. we're learn that state is no longer makinga algebra a requirement for eighth graders, bad timing, they already have a hard time boein doing math. >> don't you love hypocrisy, politicians that california condition apply simple math, and now trying to dumb down the math system, if i was a smart family or business in california, i would take up rick perry's offer and move to texas with lower taxes and a better school system. >> adam, what do you make of this? >> it is this topic has nothingo with taxes. educators in southern california have a problem. students are not doing well in theira algebra classes they are following national standards that suggestion it might be better for students to wait, i think this is horrible. i would rather that everyone student in california hav algebra in eighth grade, that is the goal, the answer is get them prepared better, that is not just a tax issue, you could make it a tax issue. >so.liz: you are so humorless t. it flew over your head. >> i thought
. >> now, huge deficit in the state of california, and tax hike trying to fix it. we're learn that state is no longer makinga algebra a requirement for eighth graders, bad timing, they already have a hard time boein doing math. >> don't you love hypocrisy, politicians that california condition apply simple math, and now trying to dumb down the math system, if i was a smart family or business in california, i would take up rick perry's offer and move to texas with lower taxes and a...
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front lines, you will continue to have agreed as pockets of -- and reduce -- egregious pockets of power deficit all over the world. i do not want to just bring up woman suffering in this, but global suffering stands united. i think women face a dual burden in the sense that they also work outside the home, but their work is not considered a contribution to the mainstream economy. women in pakistan work all day long. they also work inside the home. that is why we are putting especially rural and urban women who are disempowered at the bottom of the. -- of the pyramid at the heart of this strategy. >>> i want to ask you about the drones. pakistan's position is that the drone strikes are a violation of your sovreignty and international law and i think under both of those guidelines you have the right to self- defense. and further, just to guide your answer, has pakistan threatened to shoot down drones, and if not, why not? the reason i ask this is because there is an understanding that while pakistan publicly opposes the strike, privately it sort of winks. >> let me address this as most people do
front lines, you will continue to have agreed as pockets of -- and reduce -- egregious pockets of power deficit all over the world. i do not want to just bring up woman suffering in this, but global suffering stands united. i think women face a dual burden in the sense that they also work outside the home, but their work is not considered a contribution to the mainstream economy. women in pakistan work all day long. they also work inside the home. that is why we are putting especially rural and...
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our deficit is a big problem. what about ourbo taxation syste? when i pick up my bible, you know what i see? i see the fairest individual in the universe, god, he's given us a system. it's called tithe. >> he didn't stopme there becaue carson is head of neurosurgery at john hopkins. listen to his anecdote for obamacare. >> here is my solution. when the person is born, give him a birth certificate, electronic medical record and a health savings account. to which money can be contributed,n pretaxed, from tx time you're born to the time yot die. when you die, you can pass it on to your family members so that when you're 85 years old and you got six diseases, you're nots, trying to spend up everything. you're happy to pass it on and there is nobody talking about death panels. >> rush limbaugh said republicans could learn a thing or two from the good doctor. >> guy comes along in 43 seconds and sets43 out a position basedn out principles of individualvi responsibility and free market that is a logical solution that makes total sense to everybody who h
our deficit is a big problem. what about ourbo taxation syste? when i pick up my bible, you know what i see? i see the fairest individual in the universe, god, he's given us a system. it's called tithe. >> he didn't stopme there becaue carson is head of neurosurgery at john hopkins. listen to his anecdote for obamacare. >> here is my solution. when the person is born, give him a birth certificate, electronic medical record and a health savings account. to which money can be...
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deficits are they say unsustainable. g.d.p. is actually negative. what is he going to say, not my fault? >> he is going to say if congress doesn't act to o these things in the next few months it's going to get even worse. for example, you have the sequester coming up in couple weeks. president has presented proposals that would stave off some of the cuts that would be devastating to the nation's military and the defense industry. you have debt ceiling coming up few months after that and congress is supposed to pass a budget in the next couple of months but obviously they have not done that. >> gregg: he has raised taxes not only on high income earners, he has raised taxes on everyone. the word is he is going to say, he needs more money, more tax revenues. how is that going to be received? >> i can tell you on capitol hill it has not been received very well. house republicans basically, many of them didn't vote for the package that included the tax hikes you are referring to, the one that was voted right after new year's eve. they say that is enough.
deficits are they say unsustainable. g.d.p. is actually negative. what is he going to say, not my fault? >> he is going to say if congress doesn't act to o these things in the next few months it's going to get even worse. for example, you have the sequester coming up in couple weeks. president has presented proposals that would stave off some of the cuts that would be devastating to the nation's military and the defense industry. you have debt ceiling coming up few months after that and...
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>> the money supposedly is going to reduce the deficit. but the problem is, the sequestration is indiscriminate. if you let leon panetta do those cuss and figure out where they should come from and did it with a scalpel that would be fine. but i think the defense department can handle this. the president is not going to come up with cuts and programs that he wants if the republicans don't say what they want. whether they want it to be the virgin birth of spending cuts. >> ryan, you and i know that the 95 billion goes back in the private sector. what happens to it then? then it becomes much more lucrative than 85 billion because it's reinvested. where? in private enterprise, correct? >> it doesn't necessarily go back into the private sector. it van issues. >> how does that happen? >> they don't borrow. >> it's not being borrowed. >> but if it's still -- if it's no longer borrowed, and in the private sector where it is functioning under the rules of -- >> sitting in the banks. >> and the program matt sound capitalism. issue three. gop soul s
>> the money supposedly is going to reduce the deficit. but the problem is, the sequestration is indiscriminate. if you let leon panetta do those cuss and figure out where they should come from and did it with a scalpel that would be fine. but i think the defense department can handle this. the president is not going to come up with cuts and programs that he wants if the republicans don't say what they want. whether they want it to be the virgin birth of spending cuts. >> ryan, you...
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based on current law which showed much smaller deficits. long-term rates are higher in than we had in this country and that also reflects the higher amount of debt, federal debt relative to g.d.p. than we have had over the past several decades. >> "washington post.? -- "washington post." thinking about how we should view the budget battles over the last two years. we are stabilizing debt at a much higher level. to what extent is that a result of decisions that were made by lawmakers and to what extent that is the underlying recovery in the economy? >> both factors and we have not tried to quantify them. one can look at our projections over the past several years and basically add up each successive revision, so every time we release new budget projections, we report the revisions and we divide them into the effects of economic forecasts and changes to other technical revisions. if one stacked all those up, one can get a sense about how much the debt has changed or the deficit has changed for any given year relative to any particular path pr
based on current law which showed much smaller deficits. long-term rates are higher in than we had in this country and that also reflects the higher amount of debt, federal debt relative to g.d.p. than we have had over the past several decades. >> "washington post.? -- "washington post." thinking about how we should view the budget battles over the last two years. we are stabilizing debt at a much higher level. to what extent is that a result of decisions that were made by...
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. >> eric: the way this works the post office when it runs a deficit like the last three years in a row they go to the u.s. treasury department. they post a letter of credit and treasury hands them money. what happens if the post office defaults. who is on the hook for that money? >> the taxpayer is on the hook for all of it. this is not -- this notion, they have endorsed privatizing it. and to provide universal service g-mail provides universal service for free. post office does it to the tune of billions of dollars that taxpayers stand behind. >> eric: great discussion. how is a college degree for only ten grand sound? a number of states are making that happen. is this the best idea to save money or will it end up costing taxpayers even more money. this woman, caught on camera, shocking new video, entitlement fraud, wee do we need to cut all entitlement programs? ♪ ♪ ♪ ♪ ♪ hi, i'm phil mickelson. i've been fortunate to win on golf's biggest stages. but when joint pain and stiffness from psoriatic arthritis hit, even the smallest things became difficult. i finally understood
. >> eric: the way this works the post office when it runs a deficit like the last three years in a row they go to the u.s. treasury department. they post a letter of credit and treasury hands them money. what happens if the post office defaults. who is on the hook for that money? >> the taxpayer is on the hook for all of it. this is not -- this notion, they have endorsed privatizing it. and to provide universal service g-mail provides universal service for free. post office does it...
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. >> we got that cbo report this past week, 7 trillion dollar in additional deficit and factor in what that 600 billion dollars in tax hikes that the democrats did already push through and how does that balance things? but the point about baltimore is interesting because that's where this nation could possibly be headed. you continue to raise taxes and you don't cut spending and you wind up on the brink of bankruptcy, exactly where that city is. >> you know, ben, you say we're all eventually going to have to pay higher taxes, but as the only item in your play book how to fix your economy it doesn't seem like it's ever going to work. >> i keep thinking if taxes are so terrible, why don't we just have no taxes at all. why don't we pay for-- >> 100% taxes. >> why don't we have no taxes at all and why don't you not interrupt me for once? >> i can't help it. >> why don't we have no taxes at all and why don't we have some some balance in the budget. and for gosh sakes, we're grownup disciplined people and we're supposed to balance the budget not supposed to be like small children. >> okay, c
. >> we got that cbo report this past week, 7 trillion dollar in additional deficit and factor in what that 600 billion dollars in tax hikes that the democrats did already push through and how does that balance things? but the point about baltimore is interesting because that's where this nation could possibly be headed. you continue to raise taxes and you don't cut spending and you wind up on the brink of bankruptcy, exactly where that city is. >> you know, ben, you say we're all...
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democrats and republicans can still get together on a balanced solution to the deficit crisis. republican senator mitch mcconnell says that he know that sequestration would have consequences, but he blames president obama for not putting forward an acceptable plan to prevent it. for more on that, jonathan strong, staff writer, role call, alexander burns and national political reporter with politico. good afternoon to both of you. >> hello. >> outgoing defense secretary leon panetta warned that the $85 billion in cuts would curtail american naval operations by a full third and could force furloughs of as many as 800,000 civilian workers. take a listen to what he said. >> it is difficult to believe, frankly, that congress would simply stand aside. stand aside, fail to make the decisions necessary to resolve this crisis and allow the defense economy, equality of life of america to be irreparably damaged. >> how damaging would these cuts be to our national security? >> it's a great question. the impact is going to be fairly dramatic to some of the employees, civilian employees of t
democrats and republicans can still get together on a balanced solution to the deficit crisis. republican senator mitch mcconnell says that he know that sequestration would have consequences, but he blames president obama for not putting forward an acceptable plan to prevent it. for more on that, jonathan strong, staff writer, role call, alexander burns and national political reporter with politico. good afternoon to both of you. >> hello. >> outgoing defense secretary leon panetta...
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unlike the deficit we faced two years ago, we start out in a much better position today because of the tough, but important, decisions we made over the past two years. dain many ways, our position in wisconsin is a stark contrast to the chaos in washington, dc. while many of our nation's leaders fail to make tough decisions, we decided to avoid failure by embracing true reform. still, there is much work to be done. as i travel the state, it is clear to me why our focus on helping create 250,000 jobs by 2015 is about much more than just fulfilling a campaign promise. simply put, it is about helping improve the lives of 250,000 more families in wisconsin. you see, adding a new job is about more than just a number. every time another job is created, and a new employee is hired, it means that another family has someone working in their household. for many, that means fewer worries about putting bread on the table or clothes on the backs of their kids -- or even making the mortgage payment on the house. i will work hard each and every day, so we can help people all across wisconsin have the
unlike the deficit we faced two years ago, we start out in a much better position today because of the tough, but important, decisions we made over the past two years. dain many ways, our position in wisconsin is a stark contrast to the chaos in washington, dc. while many of our nation's leaders fail to make tough decisions, we decided to avoid failure by embracing true reform. still, there is much work to be done. as i travel the state, it is clear to me why our focus on helping create 250,000...
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our state government was bogged down by a $3 billion deficit. now our housing market is on the mend. recovering faster than anywhere in america. we are adding jobs at the swiftest clip in years, nearly 23,000 in november alone. arizona ranks fifth in the nation for job growth during 2012. [applause]the kauffman index recently declared arizona the country's premier place for entrepreneurs. our budget is now balanced. we set aside $450 million in the state's rainy day fund for the next time that crisis strikes. [applause]crime and violence in arizona continues to trend downward. arizona has reduced crime by punishing criminals and not by infringing on the rights of law- abiding gun owners. [applause]our state is getting stronger. i am confident that arizona's light of opportunity will shine as bright as the arizona sun in the years to come. i understand there was a little game being played last month called where in the world is jan brewer? i heard the rumors. i was not hiking the appalachian trail. [laughter]in fact, i was humbled that the united
our state government was bogged down by a $3 billion deficit. now our housing market is on the mend. recovering faster than anywhere in america. we are adding jobs at the swiftest clip in years, nearly 23,000 in november alone. arizona ranks fifth in the nation for job growth during 2012. [applause]the kauffman index recently declared arizona the country's premier place for entrepreneurs. our budget is now balanced. we set aside $450 million in the state's rainy day fund for the next time that...
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we have achieved about two trillion in deficit reduction so far and have another two trillion to go and something that reasonable minds agree on. it will be more fun when you are making new investmentings. >> here's the problem. so many americans believe that congress is so pol oarized right now . so difficult to make head way at this moment. everybody is camped out and take care of their own agendas . how do you get past that right now. & not every democrats support it an agreement and in my view tax were deciped and now why have turn to spend everybody acknowledges we have a spending problem and so to prevent the dire consequences that come with sequestitration and economic and national security wise and domestic programs are cut, too. we have to cut spend nothing a smart way and no reason we can't do that. >> we'll give you the last word. do we have a spending problem and believe that that is at play right now. >> we'll have to reduce spending . andy he upon said we need to have it. it was all spending cuts and the second round increases . and they are advocate that's what the countr
we have achieved about two trillion in deficit reduction so far and have another two trillion to go and something that reasonable minds agree on. it will be more fun when you are making new investmentings. >> here's the problem. so many americans believe that congress is so pol oarized right now . so difficult to make head way at this moment. everybody is camped out and take care of their own agendas . how do you get past that right now. & not every democrats support it an agreement...
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. >> the president wants lawmakers to find a balanced approach to deficit reduck. he said he wants sensible changes and reforms to the tax code. the sequester could cost jobs in education and security. funding forehead start, medical research and small businesses would be cut. >> we are learning more about the president's state of the union address set for next tuesday night. themes include job creation, immigration reform, trimming the 16 trillon dollar debt and gun violence. survivors of the connecticut shooting will attend. nancy pelosi has, invited a student from another school. >>> the first lady will attend the funeral of a chicago honor student today. police say that the 15-year-old was shot last month in a park about a mile away from the obama's chicago home. investigators say she was not the intended target. just a week before she preformed with her band at the inauguration. an event that she called a highlight of her life. no arrests have been made. >> a chance to own a piece of the nosema the niners in santa clara how you can make a lasting impression an
. >> the president wants lawmakers to find a balanced approach to deficit reduck. he said he wants sensible changes and reforms to the tax code. the sequester could cost jobs in education and security. funding forehead start, medical research and small businesses would be cut. >> we are learning more about the president's state of the union address set for next tuesday night. themes include job creation, immigration reform, trimming the 16 trillon dollar debt and gun violence....
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cuts set to kick in march 1st, meant to be so egregious that lawmakers have to come to an agreement on deficit reduction. that has not happened and time is running out. >> if the sequester goes forward, thousands that work in national security, education, or clean energy are likely to be laid off. >> reporter: the cuts would amount to a 13% reduction to the military. >> this will badly damage our national defense and compromise our ability to respond to crises in a dangerous world. >> reporter: in washington, it's the same old sticking point, with the president insisting that the deal include new taxes. >> we sure as heck should be willing to ask, those of us who are luckiest in this society, to close a few loopholes and deductions that the average american doesn't get. >> reporter: republicans say it's time to reform entitlements and cut spending. >> there is a better way to lower the deficit. but americans do not -- do not support sacrificing real spending cuts for more tax hikes. >> i think the chances of a deal to avert the sequester are less than 50/50, you are looking at a short time fra
cuts set to kick in march 1st, meant to be so egregious that lawmakers have to come to an agreement on deficit reduction. that has not happened and time is running out. >> if the sequester goes forward, thousands that work in national security, education, or clean energy are likely to be laid off. >> reporter: the cuts would amount to a 13% reduction to the military. >> this will badly damage our national defense and compromise our ability to respond to crises in a dangerous...
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it is easy for the public to focus on the debt and deficit and what is going on in washington. there is still some growth out there. the housing sector is coming back. the auto sector is coming back. those are positives that get completely put back to the forefront when everyone is talking about the debt. host: tom, elkhart, indiana. on our democrat line. caller: elkhart is the recreational vehicle capital. we went down on that in 2007 when the oil prices went up. we are manufacturing housing. we are the musical manufacturing capital. for band and treatments and such. they are made here anymore. are headquartered here, but the work is not here. i do not see how this works. host: were you at the president 's speech in 2009? what did you think when the president came to town? caller: it was helpful. he is doing what he can. he has faced a lot of resistance. it is postindustrial. i am working in michigan four eight federally subsidized wheelchair van. mostly my passengers are senior citizens and disabled people. the 47% that romney talked about. host: we will move on to charles, a
it is easy for the public to focus on the debt and deficit and what is going on in washington. there is still some growth out there. the housing sector is coming back. the auto sector is coming back. those are positives that get completely put back to the forefront when everyone is talking about the debt. host: tom, elkhart, indiana. on our democrat line. caller: elkhart is the recreational vehicle capital. we went down on that in 2007 when the oil prices went up. we are manufacturing housing....
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they say, well, if this is the way to get spending cut and tackle the deficit immediately, we're willing to and see what is happening. >> thank you, nancy. >>> that's a wrap at this hour. of "weekends with alex witt." join me for a two-hour edition of the show at noon eastern. but straight ahead, more political talk with "up with chris hayes." among his special guests, gloria steinem and marlo thomas. stay with us. our financial advice is geared specifically to current and former military members and their families. [ laughs ] dad! dad! [ applause ] [ male announcer ] life brings obstacles. usaa brings retirement advice. call or visit us online. we're ready to help. learn more with our free usaa retirement guide. call 877-242-usaa.
they say, well, if this is the way to get spending cut and tackle the deficit immediately, we're willing to and see what is happening. >> thank you, nancy. >>> that's a wrap at this hour. of "weekends with alex witt." join me for a two-hour edition of the show at noon eastern. but straight ahead, more political talk with "up with chris hayes." among his special guests, gloria steinem and marlo thomas. stay with us. our financial advice is geared specifically...
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Feb 9, 2013
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[applause] if you look at what is happening, it is true that the deficits are going to be below a trillion dollars for the first time in several years. it is true that the economy is beginning to grow again. this is almost like the reverse of what we did in 1993. i was perfectly well aware that if we raise taxes and cut spending, it could have a dragging effect on the economy. not nearly as much as having low growth or then having interest rates that were too high. so our gamble was that the explosive effect of lowing interest rates with a booming bond market and having more disposal income over five-10 year period to invest in america's future would more than offset putting the hammer down by raising more money and cutting spending. it turned out to be a good gamble. it will make sense here again. but timing is everything. so i think you should have a budget that does not defy arithmetic and does not follow in the trap that we had for 20 of the last 32 years which is you always get more money when you cut taxes. but it is also important that we recognize if there is literally no growth yo
[applause] if you look at what is happening, it is true that the deficits are going to be below a trillion dollars for the first time in several years. it is true that the economy is beginning to grow again. this is almost like the reverse of what we did in 1993. i was perfectly well aware that if we raise taxes and cut spending, it could have a dragging effect on the economy. not nearly as much as having low growth or then having interest rates that were too high. so our gamble was that the...
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. >> our deficit is a big problem. think about it. our national debt, 16.5 trillion dollars? you think that's not a lot of money in tell you what, count one number per second. you know how long it will take to count to 16 trillion? 507,000 years. you make $10 billion, you put in a billion. you make $10, you put in one. some people say that's not fair because it doesn't hurt the guy to made $10 billion as much as -- where does it say you have to hurt the guy? he just put a billion dollars in the pot. we don't need to hurt him. >> a lot of people say his speech eclipsed that of president obama who -- i don't portend to be in the mind of president obama but he didn't look delighted. >> i would like to get in hit mind. loathing on his face. that's one of the more coherent defenses of flat tax. >> start counting. >> why shouldn't every citizen pay the same rate? >> why does it have to be punitive is -- >> exactly. the sure pleasure of punishing someone. >> i found out sean hannity has more power than i do. he got his on his show. here he is. >> well, you know, obviously i had all
. >> our deficit is a big problem. think about it. our national debt, 16.5 trillion dollars? you think that's not a lot of money in tell you what, count one number per second. you know how long it will take to count to 16 trillion? 507,000 years. you make $10 billion, you put in a billion. you make $10, you put in one. some people say that's not fair because it doesn't hurt the guy to made $10 billion as much as -- where does it say you have to hurt the guy? he just put a billion dollars...
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he sold them a bill of goods, and what they got back was medicare part d, a ballooning deficit, and a financial crisis that devastated the country, a failed war -- a war in iraq that was ill-advised to put it mildly, and now the cuckoo's nest who he cultivated as the ground troops, the shock troops to win elections in 2000 and 2004, they think they're in charge and they're not going to listen to him saying they're not. >> what was the big thing with karl rove? did he start a war to celebrate the tax cut or have a tax cut to celebrate the war. i mean, he put it all together. joy put it right. i forgot to mention the prescription drug thing thrown in without financing it. >> right, right, right. and, you know, he did do a great job in the ots mobilizing and energizing the right wing base to get behind george w. bush, and then he and others did a great job in the last few years under barack obama of energizing them by demonizing barack obama and pushing them to the fringe. >> rove went on fox last night to defend himself and to profess his love for the tea party. what is he up to? he's t
he sold them a bill of goods, and what they got back was medicare part d, a ballooning deficit, and a financial crisis that devastated the country, a failed war -- a war in iraq that was ill-advised to put it mildly, and now the cuckoo's nest who he cultivated as the ground troops, the shock troops to win elections in 2000 and 2004, they think they're in charge and they're not going to listen to him saying they're not. >> what was the big thing with karl rove? did he start a war to...
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trade deficit fell sharply last month. the combination now has economists believing the economy grew in the last few months of 2012, even though data out last week showed the economy fell slightly in the fourth quarter. but a closer look shows some cause for caution. darren gersh reports. >> reporter: the december trade numbers were much better than forecasters expected. the deficit between what the u.s. exports and what we import fell 21% to $38.5 billion. and that means exports likely boosted growth in the last three months of 2012. >> so this is a good sign that exports were a little stronger than we thought when the numbers were first estimated and that is obviously a good sign for the economy. again, the economy is obviously growing way too slowly, but at least on this note, i think it will be revised upward. energy is a now a bright spot for the u.s. economy. thanks to new fracking technology, surging domestic production cut crude oil imports last year by 227 million barrels. but that success was offset somewhat by i
trade deficit fell sharply last month. the combination now has economists believing the economy grew in the last few months of 2012, even though data out last week showed the economy fell slightly in the fourth quarter. but a closer look shows some cause for caution. darren gersh reports. >> reporter: the december trade numbers were much better than forecasters expected. the deficit between what the u.s. exports and what we import fell 21% to $38.5 billion. and that means exports likely...
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that will cut our trade deficit about in half. but we'll still be left with a big trade deficit, and that's both a problem and an opportunity. we can bring many more jobs back if we make investments in the right kind of the supply-side policies. i can list four or five of those and we can probably talk about them the rest of the time. we need to invest. been talking about this all day, in technology development. we need to invest in r&d. other countries invest a lot more than we do in r&d. we need to invest more in manufacturing extension services to build these networks amongst regional firms. i've done -- a paper i just published i look at spending in germany and in japan. and on a comparative basis they're spending anywhere between 20 and 40 times as much as we are, as a share of gross domestic product on exactly those kinds of extension activities. we need to work on financing in germany, for example, small and medium sized firms get their financing directly from banks. but in this country, those firms don't have access to ban
that will cut our trade deficit about in half. but we'll still be left with a big trade deficit, and that's both a problem and an opportunity. we can bring many more jobs back if we make investments in the right kind of the supply-side policies. i can list four or five of those and we can probably talk about them the rest of the time. we need to invest. been talking about this all day, in technology development. we need to invest in r&d. other countries invest a lot more than we do in...
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our deficit is a big problem. what about our taxation system? when i pick up my bible, you know what i see? i see the fairest individual in the universe, god, he's given us this system. hoosr it's called time. >> he didn't stop there. carson is the head of neurosurgery at johns hopkins. listen to obamacare. >> here's my solution. when a person is born, give them a birth certificate, an electronic medical record and a health savings account, to which money can be contributed pre-tax from the time you are born to the time you die. when you die, you can pass it on to your family members so that when you are 85 years old, you got 6 diseases, you are not trying to spend up everything, you are happy to pass it on and nobody's talking about death panels. >> rush limbaugh says the republicans could learn a thing or two. >> the guy comes along in 43 seconds and sets out a position, based on our principles of individual responsibility and free market that is a logical solution that makes total sense to everybody who hears it. this man said it while obama'
our deficit is a big problem. what about our taxation system? when i pick up my bible, you know what i see? i see the fairest individual in the universe, god, he's given us this system. hoosr it's called time. >> he didn't stop there. carson is the head of neurosurgery at johns hopkins. listen to obamacare. >> here's my solution. when a person is born, give them a birth certificate, an electronic medical record and a health savings account, to which money can be contributed pre-tax...
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this deficit is a real problem. this is where i depart from paul. who am i to depart from paul? a nobel laureate. >> we'll ask him. >> this is about the best deal we'll get out of the right-winged crazy people in the house. >> because it's balanced and -- >> it doesn't really touch -- there's no better deal progressives are going to get out of this other than going over the cliff. >> i'm so worried about austerity and -- >> europeans did it wrong. we had throw years of recovery relative to europe. if we're ever going to take the hit this is a better time to take t if this were three years ago, i would be arguing right with you. i think we can take a chance. when are we going to get the chance to take these cuts in the pentagon or take a bite out of the deficit? i think it's worth it. >> now twittering dean quester. >> if he would stop blaming someone else other than himself and man up and take responsibility. >> kris hayes, i'm sure your guests will have much more explaining on kicking the can down the road. >> thank you. >>> ousted fox news contributor says he's on a mission fo
this deficit is a real problem. this is where i depart from paul. who am i to depart from paul? a nobel laureate. >> we'll ask him. >> this is about the best deal we'll get out of the right-winged crazy people in the house. >> because it's balanced and -- >> it doesn't really touch -- there's no better deal progressives are going to get out of this other than going over the cliff. >> i'm so worried about austerity and -- >> europeans did it wrong. we had...
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and matt schaub eliminated the trade deficit -- could reduce the trade deficit by roughly 190 or $400 billion create between 2.2 m. 4.7 million jobs. doing that would increase manufacturing back to 11 million jobs. that's a big down payment, so i think one of the things we need to do is create demand. as we did in 1990s and didn't do in the last decade. just went to foreign sources. we need to shift the demand to domestically produced goods and the voters vote in the hiring of the mystic workers. manufacturing jobs are amongst the best, especially those without a college degree. high wages, good tendency, compared especially to other work in the economy. >> great, thanks. bruce, you work in washington d.c. at dupont. >> i mostly on a plane though. >> i'm just going to say -- in washington d.c., industrial policy is a dirty word, but if you go many other domestic way, while managing a city that practice is something that looks to me like industrial policy. they're picking and winners and losers in giving tax credits to specific companies and trying to build clusters. what's the best wa
and matt schaub eliminated the trade deficit -- could reduce the trade deficit by roughly 190 or $400 billion create between 2.2 m. 4.7 million jobs. doing that would increase manufacturing back to 11 million jobs. that's a big down payment, so i think one of the things we need to do is create demand. as we did in 1990s and didn't do in the last decade. just went to foreign sources. we need to shift the demand to domestically produced goods and the voters vote in the hiring of the mystic...
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. >> i believe the debt and deficit are crucial issues. that's why i am a republican. but the republican party has evolved. >> bill: i want you to announce on this program so we can have security remove you from the building at the same time. grab. >> i don't want to give a stump speech there is a fascinating argument to be made for a new kind of republican. someone who is not dogmatic and new jersey the kind of state. >> bill: run and we will see what happens. >> thank you. >> bill: menendez is through. >> junior senator. >> bill: he has done -- too much shady stuff with this doctor. i don't know what he did in the dominican republic and we'll find out what he did. even if he didn't do anything there. too much shady stuff with this doctor. he is now lost credibility. menendez has. and if he is forced resign, which i believe he may be. then christie is going to appoint a republican to take 34eus his place and there will be a special election, right? >> he would probably, i would guess appoint the man who lost in the race. if i were chris christie. >> bill: then there w
. >> i believe the debt and deficit are crucial issues. that's why i am a republican. but the republican party has evolved. >> bill: i want you to announce on this program so we can have security remove you from the building at the same time. grab. >> i don't want to give a stump speech there is a fascinating argument to be made for a new kind of republican. someone who is not dogmatic and new jersey the kind of state. >> bill: run and we will see what happens. >>...